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Alicon Castalloy Limited (ALICON) Fair Value & Analysis

Industrials · IN · Market cap ₹10.9B (≈ $116M) · ISIN INE062D01024

What is Alicon Castalloy Limited really worth?

AC Alicon Castalloy Limited ALICON · BSE
Price₹680.75
Fair Value₹442.67
Upside−35.0%
Quality56/100

A solid business, but trading 54% above our fair value of ₹442.67.

As of Aug 22, 2026, the fair value of Alicon Castalloy Limited is ₹442.67 per share against a price of ₹680.75, so the fair value sits 35% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +15.9 %/yr)
Low debt · generates free cash flow

Risks

!Thin margins · 1.9% net margin
!Narrow moat 35/100
Evidence: High Range ₹332.00 – ₹553.34

Fair value as of: Aug 22, 2026

From 23 valuation models · updated 15 days ago

Share price +1.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹553.34). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹1,491 ₹422.60 Fair Value ₹442.67 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range ₹422.60 – ₹1,491 · fair‑value band ₹332.00 – ₹553.34 · the ₹680.75 price screens above the ₹442.67 fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Alicon Castalloy Limited (ALICON) currently trades at ₹680.75, while our model-based Fair Value estimate is ₹442.67, implying the stock looks roughly 53.8% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of ₹869.53 per share, and 10 of the 23 models we run sit above the ₹680.75 price. Bear case: the Earnings-Based group reads lowest at ₹206.79, and 13 of the 23 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Alicon Castalloy Limited generated revenue of ₹17.8B at a net margin of 1.9%. Revenue grew 16.6% year over year. It earns a return on equity of 5.6%. Net debt stands at ₹3.1B. Fundamentals as of Aug 22, 2026

Our scenario range runs from ₹332.00 (bear case) to ₹553.34 (bull case); at ₹680.75, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −35%, ALICON screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹9.15 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence ₹636.05 ₹1,122 ₹1,926 78
Growth DCF ₹637.65 ₹1,101 ₹1,856 76
Residual Income ₹298.86 ₹305.09 ₹300.31 76
All 23 models by family
DCF Models
FCF DCF best evidence ₹636.05 ₹1,122 ₹1,926 78
5Y Revenue Exit ₹498.53 ₹852.56 ₹1,317 71
5Y EBITDA Exit ₹882.65 ₹1,615 ₹2,515 73
5Y P/E Exit ₹378.40 ₹613.97 ₹868.70 70
10Y Revenue Exit ₹523.88 ₹869.53 ₹1,366 65
10Y EBITDA Exit ₹790.89 ₹1,417 ₹2,333 66
10Y P/E Exit ₹461.61 ₹698.33 ₹1,004 64
Earnings-Based
Graham-Dodd ₹143.34 ₹579.59 ₹788.52 64
Lynch FV ₹144.75 ₹206.79 ₹268.83 61
PEG = 1.0 ₹144.75 ₹206.79 ₹268.83 57
EPV ₹403.83 ₹479.64 ₹545.98 74
Multiples
P/E Multiple ₹332.00 ₹442.67 ₹553.34 63
P/S Multiple ₹268.77 ₹358.35 ₹447.94 58
P/B Multiple ₹268.77 ₹358.35 ₹447.94 55
EV/EBIT ₹641.39 ₹872.21 ₹1,103 66
EV/EBITDA ₹1,110 ₹1,497 ₹1,884 67
EV/Revenue ₹443.15 ₹654.96 ₹866.78 53
Asset-Based
NCAV (Graham) ₹192.30 ₹257.68 ₹384.59 54
Growth DCF
Growth DCF ₹637.65 ₹1,101 ₹1,856 76
Rev-Margin DCF ₹498.53 ₹849.82 ₹1,285 71
Economic Profit
Residual Income ₹298.86 ₹305.09 ₹300.31 76
ROIC Compounder ₹412.26 ₹562.57 ₹777.04 71
Growth Earnings
Growth-Adj P/E ₹252.49 ₹360.70 ₹468.91 67

Widest divergence: DCF Models (₹869.53) versus Earnings-Based (₹206.79). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 32.4
P/S ratio 0.63 P/E × margin
EPS (TTM) ₹21.01 price ÷ EPS = P/E 32.4
Dividend yield 0.8% payout 26.6%
Net margin 1.9% FY2026
Return on equity 5.6% TTM
More key figures
Profitability
Return on assets (EBIT) 7.7% avg 5y
Operating margin 3.9% TTM
Growth
Revenue (TTM) ₹17.8B TTM
Revenue growth (YoY) +16.6% 3y avg +8.2%
EPS growth (YoY) −15.9%
Balance sheet & cash flow
Free cash flow ₹915M FY2026
Net debt ₹3.1B FY2026 · ≈ 3.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 38

Profitability 55
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Alicon Castalloy Limited provides design, manufacturing, engineering, casting, machining, assembly, painting, and surface treatment services for aluminum components in India and internationally.

Full company description

Alicon Castalloy Limited provides design, manufacturing, engineering, casting, machining, assembly, painting, and surface treatment services for aluminum components in India and internationally. The company offers 2 and 4-wheeler cylinder heads, transcradles, motor and compressor housings, inlet pipes, motor stators, cac tanks, controller and distributor housings, battery trays, housings, enclosure bodies, fully finished cylinder heads, swing arms, cooling/junction boxes, inverter casings, transmission cases, e-axles, and top yokes/bridge fork tops as well as suspension, chassis, and brake parts. Its products are used in various sectors, such as e-mobility, automotive, agriculture, energy, medical and health, defence, infrastructure, locomotive, aerospace, and carbon-neutral. In addition, the company exports its products to approximately 18 countries. Alicon Castalloy Limited was formerly known as Enkei Castalloy Limited and changed its name to Alicon Castalloy Limited in December 2010. The company was incorporated in 1990 and is headquartered in Pune, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Alicon Castalloy Limited reported revenue of ₹17.8B in FY2026 versus ₹10.8B in FY2022, a compound +13.3%/yr. Reported net income was ₹344M in FY2026, compounding +9.2%/yr from FY2022.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹17.8B
Latest YoY
+3.2%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.2%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.9%
Avg. revenue growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.0%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.8% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+9.0%
Dividend yield0.8%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 9.0% vs 10Y 0.5%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4.3% (2021) → 5.0% (2026) · steady
Worst earnings drop104% (2021) (loss year, drop beyond 100%) · in INR
Revenue +13.3%/yr
FY22 ₹10.8B
FY23 ₹14.0B
FY24 ₹15.6B
FY25 ₹17.2B
FY26 ₹17.8B
Net income +9.2%/yr
FY22 ₹242M
FY23 ₹514M
FY24 ₹614M
FY25 ₹461M
FY26 ₹344M

ALICON screens 54% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Alicon Castalloy Limited Fair Value". https://www.fairvalue-calculator.com/stock/ALICON.BSE

Peer Group

Metal Fabrication · 249 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −35% · Below median
Return on equity (TTM) 6% · Above median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 17% · Above median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 32.4× · Pricier than median
P/B 1.74× · Pricier than median
P/S (TTM) 0.62× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.8× · Cheaper than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

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ATI Inc ATI $210.76 $35.74 −83%
Mueller Industries, Inc MLI $62.80 $59.33 −6%
Aurubis AG NDA €178.90 €223.43 +25%
China International Marine Containers (Group) Co 000039 ¥9.39 ¥3.39 −64%
Commercial Metals Company CMC $68.16 $13.01 −81%
JL Mag Rare-Earth Co 300748 ¥27.08 ¥8.34 −69%
Viohalco S.A VIO €16.46 €14.98 −9%
ESAB Corporation ESAB $86.05 $52.40 −39%
Ningbo Zhenyu Technology Co 300953 ¥104.36 ¥44.23 −58%

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Frequently asked questions

Is Alicon Castalloy Limited (ALICON) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of ₹442.67 versus a price of ₹680.75, about −35% upside (overvalued).
What is the fair value of ALICON?
Our model-based fair value for Alicon Castalloy Limited is ₹442.67 (as of Aug 22, 2026), built from audited fundamentals. The current price: ₹680.75.
What is the quality score of ALICON?
Alicon Castalloy Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Alicon Castalloy Limited (ALICON)?
Our model-based price target is the fair value of ₹442.67 (as of Aug 22, 2026) from 23 valuation models. Cautious scenario ₹332.00, optimistic scenario ₹553.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Alicon Castalloy Limited stock forecast for 2026?
Our models put fair value at ₹442.67, about −35% upside versus a price of ₹680.75 (overvalued). Cautious scenario ₹332.00, optimistic scenario ₹553.34. The calculation is refreshed regularly with new filings.
What is the revenue of Alicon Castalloy Limited (ALICON)?
Alicon Castalloy Limited reported trailing-twelve-month revenue of about ₹17.8B (latest available figure, as of Aug 22, 2026).
What is the net profit margin of ALICON?
The net profit margin of Alicon Castalloy Limited is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Alicon Castalloy Limited pay a dividend?
Alicon Castalloy Limited currently shows a dividend yield of about 0.82% relative to its recent price (as of Aug 22, 2026).
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